REGISTERED NUMBER: 04988831 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

STAINES & BRIGHTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M D Southgate

R K Willis

SECRETARY:

H E Southgate

REGISTERED OFFICE:

81 Church Road

Tiptree

Essex

CO5 0HB

REGISTERED NUMBER:

04988831 (England and Wales)

ACCOUNTANTS:

THP Limited

Chartered Accountants

Waterhouse Business Centre

Unit 53

2 Cromar Way

Chelmsford

Essex

CM1 2QE

FIXED ASSETS

Intangible assets

4

-

5,215

Tangible assets

5

36,160

42,528

36,160

47,743

CURRENT ASSETS

Stocks

262,529

340,634

Debtors

6

7,218

5,229

Cash at bank and in hand

7,467

14,755

277,214

360,618

CREDITORS

Amounts falling due within one year

7

252,023

278,745

NET CURRENT ASSETS

25,191

81,873

TOTAL ASSETS LESS CURRENT LIABILITIES

61,351

129,616

CREDITORS

Amounts falling due after more than one year

8

(25,926

)

(31,481

)

PROVISIONS FOR LIABILITIES

11

(5,520

)

(7,092

)

NET ASSETS

29,905

91,043

CAPITAL AND RESERVES

Called up share capital

9,999

9,999

Retained earnings

19,906

81,044

29,905

91,043

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2025 and were signed on its behalf by:

M D Southgate - Director

R K Willis - Director

1.	STATUTORY INFORMATION

Staines & Brights Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The financial statements are prepared on the going concern basis, which assumes the ability of the company to continue its activities for the foreseeable future, being a period of not less than twelve months from the approval of these accounts.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods and services supplied, net of returns, discounts and value added taxes.

Revenue is recognised when goods are delivered to the customer, such that the risks and rewards of ownership have passed to them.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business in 2003, has been fully amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold land and buildings

-

1% on cost

Televisions & Computers

-

33% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for impairment of obsolete or slow moving items.

Cost is determined on the first-in, first-out (FIFO) method. Cost includes the purchase price, including taxes and duties, transport and handling directly attributable to bringing the stock to its present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

The company has corporation tax losses of £85,178 to carry forward to set-off against future trading profits.

Leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

Goodwill

software

Totals

£

£

£

COST

At 1 March 2024

and 28 February 2025

125,150

4,000

129,150

AMORTISATION

At 1 March 2024

119,935

4,000

123,935

Amortisation for year

5,215

-

5,215

At 28 February 2025

125,150

4,000

129,150

NET BOOK VALUE

At 28 February 2025

-

-

-

At 29 February 2024

5,215

-

5,215

5.	TANGIBLE FIXED ASSETS

Freehold

Fixtures

land and

Televisions

and

Motor

buildings

& Computers

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 March 2024

15,685

18,392

50,393

18,500

102,970

Additions

-

815

154

-

969

At 28 February 2025

15,685

19,207

50,547

18,500

103,939

DEPRECIATION

At 1 March 2024

1,527

15,907

42,623

385

60,442

Charge for year

77

767

1,964

4,529

7,337

At 28 February 2025

1,604

16,674

44,587

4,914

67,779

NET BOOK VALUE

At 28 February 2025

14,081

2,533

5,960

13,586

36,160

At 29 February 2024

14,158

2,485

7,770

18,115

42,528

Included in cost of land and buildings is freehold land of £ 8,000 (2024 - £ 8,000 ) which is not depreciated.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Prepayments

7,218

5,229

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 9)

9,055

5,556

Trade creditors

64,892

101,491

VAT

25,779

26,039

Directors' current accounts

147,331

140,564

Accrued expenses

4,966

5,095

252,023

278,745

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 9)

25,926

31,481

Amounts falling due in more than five years:

Repayable by instalments

Bank loans >5 years payable

by instalments

3,704

9,259

3,704

9,259

9.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

3,499

-

Bank loans - less than 1 year

5,556

5,556

9,055

5,556

Amounts falling due between two and five years:

Bank loans - 2-5 years

22,222

22,222

Amounts falling due in more than five years:

Repayable by instalments

Bank loans >5 years payable

by instalments

3,704

9,259

3,704

9,259

The bank loan is supported and secured by the UK Government's Bounce Back Loan Scheme (BBLS). Interest is applied at a fixed rate of 2.5% and the balance is repayable over 120 months with the first payment due 12 months after inception.

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

5,750

11,063

11.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

5,520

7,092

Deferred

tax

£

Balance at 1 March 2024

7,092

Credit to Income Statement during year

(1,572

)

Balance at 28 February 2025

5,520

12.	RELATED PARTY DISCLOSURES

The directors' loans to the company are on an interest free basis and repayable on demand.

At the year end, directors loans to the company amounted to £147,331 (2024: £140,564).